SBC News Voice of the Sports Betting Industry
The Malta Gaming Authority (MGA) has suspended the licence of SFJL Holding, a B2C licence holder in the island nation described as the ‘Authorised Person’ by the regulator.
SJFL Holding, based out of an office complex in the Southeast Maltese town of Paola, has been found to have been in breach of three licence provisions of the MGA’s ninth regulatory condition.
The MGA accuses the firm of failing to comply with ‘one or more applicable obligations’ of Maltese regulatory and gaming laws, failing to seek approval from the authority of a material change when required.
Additionally, the MGA states that ‘circumstances arose’ at SFJL which would not have been authorised by the regulator had it been aware at the time.
SFJL is not permitted to carry out gambling operations in the country whilst its suspension is in effect, but the firm does have the option to appeal the MGA’s decision if it desires.
The suspension of SJFL’s licence comes shortly after the licence of EGMIT Elite Limited was revoked by the MGA for similar regulatory breaches.
EGMT failed to comply with an MGA order and ‘one or more applicable obligations’ of a regulatory instrument, as well as failing to discharge financial commitments. Lastly, a failure to meet commitments to players and pay amounts due to the authority in a ‘timely manner’ were also cited by the regulator.
Earlier last month, the Maltese licence of German-founded firm Tipster.de was also suspended. This followed the revoking of its licence by Germany’s Gluecksspiel (GGL) after the company declared insolvency.
